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allison transmission holding (ALSN) Details

Allison Transmission Holdings, Inc., together with its subsidiaries, designs, manufactures, and sells commercial and defense fully-automatic transmissions for medium- and heavy-duty commercial vehicles, and medium- and heavy-tactical U.S. defense vehicles. It offers transmissions for various applications, including distribution, refuse, construction, fire, and emergency on-highway trucks; school, transit, and hybrid-transit buses; motor homes; energy, mining, and construction off-highway vehicles and equipment; and wheeled and tracked defense vehicles. The company offers 13 transmission product lines with approximately 100 product models. It markets its transmissions under Allison Transmission brand name and remanufactured transmissions under ReTran brand name. The company also sells branded replacement parts, support equipment, and other products necessary to service the installed base of vehicles utilizing its transmissions, as well as defense kits, engineering services, and extended transmission coverage services to various original equipment manufacturers, distributors, and the U.S. government. In addition, it designs and manufactures hybrid-propulsion systems for transit buses. Allison Transmission Holdings serves customers through an independent network of approximately 1,400 independent distributor and dealer locations worldwide. The company, formerly known as Clutch Holdings, Inc., was founded in 1915 and is headquartered in Indianapolis, Indiana.

allison transmission holding (ALSN) Key Developments

Allison Transmission Holdings, Inc. Elects David Everitt as Member of the Compensation Committee of the Board

Feb 20 15

On August 7, 2014, Allison Transmission Holdings, Inc. announced that David Everitt had been appointed as a Director of the company, but as of that date had not been named to any committees of the Board of Directors. On February 19, 2015, the Board elected Mr. Everitt as a member of the Compensation Committee of the Board.

Allison Transmission Holdings, Inc. Declares Quarterly Dividend on Common Stock for the First Quarter of 2015, Payable on March 13, 2015

Feb 19 15

Allison Transmission Holdings, Inc. announced that its board of directors declared a cash dividend of $0.15 per share on the company's common stock for the first quarter of 2015. Payment will be made on March 13, 2015, to stockholders of record at the close of business on March 2, 2015.

Allison Transmission Holdings Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Revenue Guidance for the First Quarter 2015 and Earnings Guidance for the Full Year of 2015

Feb 9 15

Allison Transmission Holdings Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net sales of USD 544 million, an 11% increase from the same period in 2013. The increase in Net Sales were principally driven by the continued recoveries in the North America On-Highway and Off-Highway end markets, and higher demand in the Service Parts, Support Equipment & Other end market, partially offset by lower demand in the Outside North America On-Highway and North America Hybrid-Propulsion Systems for Transit Bus end markets. Adjusted net income, a non-GAAP financial measure was USD 117 million, compared to adjusted net income of USD 78 million for the same period in 2013, an increase of USD 39 million. Adjusted EBITDA, a non-GAAP financial measure was USD 185 million, or 34.0% of net sales compared to USD 153 million, or 31.1% of net sales for the same period in 2013. Excluding USD 3 million of technology-related license expenses, Adjusted EBITDA was USD 188 million, or 34.6% of net sales. Adjusted free cash flow, a non-GAAP financial measure was USD 129 million, or USD 0.71 per diluted share compared to USD 109 million for the same period in 2013, or USD 0.59 per diluted share. Operating income was USD 117.8 million against USD 99.6 million a year ago. Income before income taxes was USD 77.8 million against USD 67.5 million a year ago. Net income was USD 50.5 million against USD 42.9 million a year ago. Basic and diluted earnings per share attributable to common stockholders were USD 0.28 against USD 0.23 a year ago. Net cash provided by operating activities was USD 140.9 million against USD 138.1 million a year ago.
For the full year, the company reported net sales of USD 2,127.4 million against USD 1,926.8 million a year ago. Operating income was USD 512.1 million against USD 409.9 million a year ago. Income before income taxes was USD 368.1 million against USD 266.1 million a year ago. Net income was USD 228.6 million against USD 165.4 million a year ago. Diluted earnings per share attributable to common stockholders were USD 1.25 against USD 0.88 a year ago. Net cash provided by operating activities was USD 556.9 million against USD 453.5 million a year ago. Adjusted net income was USD 479.1 million against USD 347.9 million a year ago. Adjusted EBITDA was USD 739.0 million against USD 626.6 million a year ago. Adjusted free cash flow was USD 523.5 million against USD 398.8 million a year ago.
The company provided revenue guidance for the first quarter and earnings guidance for the full year of 2015. The company expects first quarter net sales to be higher than the same period in 2014. The anticipated year-over-year increase in first quarter net sales is principally driven by higher demand in the North America On-Highway and Off-Highway end markets, partially offset by previously considered reductions in Defense net sales and lower demand in the North America Hybrid-Propulsion Systems for Transit Bus end market.
For the year, the company expects net sales to be in the range of flat to down 5% compared to 2014, an adjusted EBITDA margin in the range of 34% to 35.5%, and an adjusted free cash flow in the range of USD 475 million to USD 525 million, or USD 2.60 per diluted share to USD 2.90 per diluted share. Capital expenditures are expected to be in the range of USD 60 million to USD 70 million, which includes maintenance spending of approximately USD 60 million. Cash income taxes are expected to be in the range of USD 10 million to USD 15 million. 2015 net sales guidance reflects a cautious approach given the heightened level of uncertainty and the lack of near-term visibility and confidence in the global Off-Highway end markets. The company’s 2015 net sales outlook also assumes a continued recovery in the North America On-Highway end market, previously considered reductions in U.S. defense spending, continued weakness in the Outside North America On-Highway end market and lower demand for North America Hybrid-Propulsion Systems for Transit Bus due to engine emissions improvements and non-hybrid alternatives.

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